Genlyte announces 63% increase in third quarter 1996 earnings.UNION, N.J.--(BUSINESS WIRE)--October 24, 1996--The Genlyte Group This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. Incorporated (NASDAQ-GLYT) today announced continued improvement in its operating results, earning $0.26 per share for the third quarter on sales of $116 million. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. , the company has earned $0.65 per share on sales of $337.1 million. These results represent a sales increase of 3% and a profit increase of 63% versus the third quarter of 1995. Compared to the first nine months of 1995, sales grew 1% and profits increased 55%, primarily due to productivity improvements. Long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. repayment during the first three quarters of 1996 totaled $6 million, reducing the company's ratio of debt to total capital to 44%. President and Chief Executive Officer Larry Powers Larry Powers was a bodybuilder. He won Mr New York State in 1965. Mr Staten Island. Mr World's Fair. Mr America (Class A). Powers acted in films and television and did several commercials. He contracted Parkinson's disease. said, "An important accomplishment during the quarter was the completion of the Genlyte TechCenter located in Fall River, Massachusetts Fall River is a city in Bristol County, Massachusetts, in the United States. It is located about 46 miles south of Boston, 16 miles southeast of Providence, Rhode Island and 12 miles west of New Bedford. The city's population was 91,938 during the 2000 census. . This state-of-the-art center features the full range of Genlyte fixtures and lighting controls displayed in an interactive environment. The architects, specifiers, distributors, and contractors who have visited TechCenter are unanimous in describing it as an outstanding facility for sales training and product demonstration." The Genlyte Group Incorporated is a leading manufacturer of lighting fixtures and controls for the commercial, industrial and residential markets. Its products are sold under the brand names of Bronzelite, Crescent crescent, emblematic representation of the quarter moon. The crescent and star, ancient Byzantine symbols that became the emblems of Constantinople, were also assumed as the standard of the Ottoman Turks. , Diamond F, Exceline, Forecast, Hadco, Lightolier Lightolier is a company that manufactures and sells a wide array of lighting fixtures. It was founded in 1904 by Bernhard Blitzer under the name of New York Gas and Appliance Co. , Stonco, and Wide-Lite in the U.S., and C.F.I, Keene-Widelite, Lightolier, Prodel, and Stonco in Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . -0-
The Genlyte Group Incorporated
Consolidated Condensed Statement of Income
(Amounts in thousands except per share data)
For the three months ended For the nine months ended
Sept. 28, Sept. 30 Sept. 28, Sept. 30
1996 1995 1996 1995
Net Sales $ 116,036 $ 112,908 $ 337,138 $ 334,113
EBIT $ 7,385 $ 5,610 $ 19,334 $ 15,702
Income Before
Taxes $ 6,024 $ 3,632 $ 14,877 $ 9,508
Net Income $ 3,436 $ 2,064 $ 8,478 $ 5,387
E.P.S.(a) $ 0.26 $ 0.16 $ 0.65 $ 0.42
Average Shares
Outstanding 13,091 12,817 13,002 12,793
(a) Primary and Fully Diluted
CONTACT: The Genlyte Group Incorporated Neil M. Bardach, 908/810-4518 |
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